Franman to promote Saudi’s IMI in Greece and Cyprus

(Posted on 07/06/24)

Athens-based Franman, a leading representative and supplier of premium equipment, parts, products and high-quality services to the shipping industry, has been appointed as the exclusive agent for Greece and Cyprus, by Saudi Arabia’s International Maritime Industries (IMI), the largest full-service shipyard in the MENA region.

The agreement makes Franman the sole agent responsible for promoting IMI's Maintenance, Repair & Overhaul (MRO) business to potential Greece- and Cyprus-based clients. IMI selected Franman for its expertise and long history serving these countries’ maritime sectors.

IMI’s fully integrated shipyard spans more than 11 million square meters and caters to a wide range of commercial vessels, including VLCCs, bulk carriers, tankers, offshore support vessels and offshore jack up rigs. Recognized as the largest and only yard in the MENA region capable of multiple MRO projects and large-scale new build programs including VLCCs, IMI’s tech-led infrastructure for New Build & MRO features state of the art facilities, multiple dry-docks and the largest ship lift facility in the world with a lifting capacity of 31,200 tons, that collectively enable unmatched service capacity and efficiency.

Costis Frangoulis, Founder and CEO of Franman, said: “Our partnership with IMI is a significant milestone in Franman’s 33-year-long solid track record of representing leading international service providers to the maritime sector. This agreement could bring about mutually beneficial opportunities for both Franman and IMI, ultimately enhancing the maritime capabilities across our regions. Franman’s clients in Greece and Cyprus seeking enhanced capabilities, sustainability alignment and a strategic location for their MRO needs now have access to one of the most advanced and sustainability-focused maritime facilities globally located strategically at a key maritime route closer to home. And with IMI's expertise and the extensive facilities of the shipyard, Franman could potentially tap into a broad range of maritime industries, from commercial shipping to offshore energy, bolstering our position as a key player in the maritime service sector.”

Feras Al-Sahan, Acting Chief Executive Officer, of IMI, said: “This partnership is another significant step in our journey to increase our geographical reach and deliver best-in-class services to global clients.  We are confident that through our collaboration, as the largest full-service shipyard in the MENA region, and Franman’s expertise and far-reaching market presence in Europe, we can jointly unlock opportunities for the maritime sector and in turn spur economic growth. We recognize the evolving needs of shipping companies to ensure operational efficiency and business continuity. We are excited to support our prospective clients via IMI’s state-of-the-art integrated shipyard, where we not only provide ship and rig building capabilities, but also deliver MRO services. This collaboration will also be enhancing scalability of our operations and offering world class facilities in the region to new global clients”.

Latest News

Posidonia 2026 takes centre stage amid global freedom of navigation challenges

From insurance and risk management to energy transition, digitalisation and maritime security, the Posidonia... Read more

First maritime compliance & prevention-focused organisation, PaS, joins DBCE

Prevention at Sea (PaS), a leading maritime compliance, auditing, and digital solutions provider, has... Read more

NorthStandard reports strong results and strategic momentum

NorthStandard has reported strong financial results, continued strategic progress and enhanced support... Read more

Latest guidance for vessel transit through Strait of Hormuz

Hundreds of vessels remain unable to transit the Strait of Hormuz and, in the event of a return to more... Read more

The Bahamas regains QUALSHIP 21 eligibility

The Bahamas has regained eligibility for the United States Coast Guard’s QUALSHIP 21 programme... Read more

First dedicated STS standard for dry bulk released by INTERCARGO

Ship to ship (STS) transfers are an established part of dry bulk operations, and they are growing. As... Read more

Columbia reinforces commitment to maritime talent

Columbia Group has strengthened its commitment to developing the next generation of maritime professionals... Read more

Jamaica marks 50 years at IMO with call for island states to shape future

The Maritime Authority of Jamaica has marked Jamaica’s 50th anniversary as a member of the International... Read more

Costamare Bulkers logs first profit after Cargill deal removes most legacy trading

Costamare Bulkers Holdings Limited has reported unaudited financial results for the first quarter ended... Read more

NORDEN strengthens fleet with the addition of four Handysize vessels

NORDEN have announced that they have expanded their fleet with the purchase of four dry cargo Handysize... Read more